Verano (OTCMKTS:VRNOF) Shares Up 9.3% - Here's What Happened

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) shares were up 9.3% during mid-day trading on Monday . The company traded as high as $0.63 and last traded at $0.59. Approximately 442,315 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 362,308 shares. The stock had previously closed at $0.54.

Analyst Upgrades and Downgrades

Separately, Cormark downgraded Verano from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 12th.

Verano Trading Up 13.5%

The business has a fifty day moving average price of $0.57 and a two-hundred day moving average price of $0.76. The company has a current ratio of 2.15, a quick ratio of 1.01 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $230.45 million, a PE ratio of -0.64 and a beta of 0.72.

Verano (OTCMKTS:VRNOF - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. The firm had revenue of $209.81 million during the quarter, compared to the consensus estimate of $213.84 million. Verano had a negative return on equity of 8.06% and a negative net margin of 40.20%. Analysts expect that Verano Holdings Corp. will post -0.18 EPS for the current fiscal year.

About Verano

Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company engages in the cultivation, processing, wholesale, and retail distribution of cannabis in Arizona, Arkansas, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia.